Free by Christmas?

Back in the beginning of the Summer, I discussed a Highland Park (St. Paul) home with a particularly tortured price history:

May 4:  listed at $699,900
May 10:  reduced to $674,900
May 15:  reduced to $649,900
May 18:  reduced to $624,900
May 21:  reduced to $599,900
May 29:  reduced to $574,900
June 1: reduced to $564,900
June 4:  reduced to $549,900
June 6:  reduced to $524,900
June 14:  reduced to $500,000

I noted in my post (“So, How Low Did it Go?”) that the drop to $500k seemed to do the trick; the home’s status on MLS was switched to “Pending” shortly thereafter.

(Still More) Price Cut Pain

Unfortunately, the transaction — a short sale — didn’t stick; here’s the home’s subsequent price history:

July 2:  $499,900
July 10:  $474,900
July 15:  $449,900
July 21:  $439,900
July 25:  $434,900
July 29:  424,900
July 31:  $419,900
Aug. 3:  $409,900
Aug. 5:  $399,900
Aug. 19:  $389,900

Even when a home has multiple challenges — and this one certainly does (odd layout, one-car garage, numerous half-finished projects) — you feel badly for an owner who’s gone through this much pain.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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